Following our previous update on 4th January 2021, please find below notable changes that have been released via gov.uk.

Grants

Following the Prime Minister’s announcement last night, the Chancellor has announced that businesses in the retail, hospitality and leisure sectors are to receive a one-off grant worth up to £9,000 per property to help business through the spring.

The one-off top-ups will be granted to closed businesses as follows:

• £4,000 for businesses with a rateable value of £15,000 or under
• £6,000 for businesses with a rateable value between £15,000 and £51,000
• £9,000 for businesses with a rateable value of over £51,000

How to apply

We are awaiting further details on how to apply for this grant and we will continue to update you promptly once further information is released.

A further £594 million is also being made available for Local Authorities and the Devolved Administrations to support other businesses not eligible for the grants, that might be affected by the restrictions. We are waiting further details on how to apply for this funding and will continue to update you promptly once further information is released.

Rates Relief

The government has provided 100% business rates relief for retail, hospitality and leisure businesses.

Government Backed Loans

100% government backed loan applications will be extended until March 2021.